Salem, UT—84653
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Salem, UT
As of Oct '25, the median home price in Salem, UT is $665,000, with a year-over-year change of 4.3%. This indicates that home prices in Salem, UT are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $665,000 | 4.4% |
| Single Family | $668,000 | 4.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $593,000 | 5.3% |
4 Bed | $696,000 | 4.8% |
| 5 Bed | $785,000 | 3.2% |
% of Housing Stock
Rental Trends — Salem, UT
As of July '25, Rentcast reports the average rent in Salem, UT is $2,080, with a year-over-year rent change of -6.3%. Per bedroom, the median rent as of July '25 in Salem, UT is 1-bedrooms: $1,750, 3-bedrooms: $2,130, 4-bedrooms: $2,000. The most common rental property sizes in Salem, UT are 3-bedroom and 4-bedroom, accounting for 42.8% and 22.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $2,080 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,750 | $1,750 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,000 | $2,130 |
| 4 Bed Rent | $1,750 | $2,000 |
% of Rental Stock
Property Listings — Salem, UT
As of Oct '25, Realtor.com reports that the median days on market for a home in Salem, UT is 84. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $739,000 | -9.0% |
Listing Count | 286 | 99.0% |
| Listings as % of Homes | 4.2% | 99.0% |
Days on Market | 84 | 0.0% |
Demographics — Salem, UT
As of the latest ACS Survey released in 2023, Salem, UT has a population of 11,500, which has increased by 26.9% over the past 5 years. Salem, UT is a popular place for families, as children make up 35.9% of the population. The area has a moderately educated workforce, with 40.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,500 | 26.9% |
% Under 18 | 35.9% | -1.6% |
% Seniors | 10.2% | 4.1% |
% WFH | 16.0% | 128.6% |
% w/ College Degree | 40.6% | 2.3% |
As of the latest ACS Survey released in 2023, Salem, UT is a predominantly white area, with 88.9% of the population identifying as white. The white population has shrunk by 4.0% in the last 5 years. The second most common race or ethnicity in Salem, UT is hispanic, making up 6.5% of the population. Foreign-born residents account for 2.1% of the population in Salem, UT, and this percentage has decreased by 22.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.9% | -4.0% |
% Black | 0.3% | 50.0% |
% Hispanic | 6.5% | 71.1% |
% Asian | 0.2% | -60.0% |
% Foreign Born | 2.1% | -22.2% |
Mortgage and Risk — Salem, UT
According to HUD data as of 2023, there were 227 mortgage originations in Salem, UT, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Salem, UT. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 227 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Salem, UT
Salem, UT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | 0.9% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$520 | $1,750 | $1,230 |
| 2 Bedroom | N/A | N/A | $1,420 |
| 3 Bedroom | -$10 | $2,000 | $1,990 |
| 4 Bedroom | $630 | $1,750 | $2,380 |
Affordability — Salem, UT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $665,000 |
| Median Household Income | $111,000 |